Banking Regulation in Croatia: Qualitative and Quantitative Assessment
This chapter emphasizes the specifics of the Croatian banking sector and discusses the importance of the regulatory framework for the Croatian banking system in the historical perspective. It analyses the roles of the regulators, bank managers, depositors, taxpayers, borrowers and shareholders in shaping the political economy landscape for banking regulation in Croatia. This covers the period since the demise of socialism until the present day. This is followed by a broad overview of the main developments in the banking sector based on data on financial soundness, with the focus on the period from 2000 onwards. To empirically assess the effects of banking regulation on financial soundness indicators and lending activity, the authors will use vector auto regression (VAR) models. As the key explanatory variable the authors will use the index of regulatory burden and indicator of monetary policy stance, while capital adequacy, liquidity indicators and lending to the private sector are included as variables of interest.
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